Worldwide backlash against quantitative easing.

Apparently, I’m not the only one concerned about the Fed’s quantitative easing.

Yesterday, I wrote a piece: Quantitative easing. What is it good for? Absolutely nothing!

Today, we get similar sentiments from around the world:

Could this move turn out to be a modern-day Smoot-Hawley? For those of you who are too young to remember, the Smoot–Hawley Tariff Act was passed in 1930, raising tariffs, and being a major contributor to the Great Depression.

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2 responses to “Worldwide backlash against quantitative easing.

  1. We should never have been spending and borrowing at these levels. At this point, we don’t have any choice though. Without QE, our bonds would collapse and interest rates would soar, making the cost of servicing our debt prohibitive.

  2. We should have never been spending or borrowing at these lvls…. And your reply is to keep the same wrong headed policies in action? He need to bite the bullet while we still have a choice and minimize damage, not wait until the US dollar is worth nothing, the world switches to the Yuan or Euro as the global currency, and we have huge tent cities surrounding everyone of our major cities.
    Of course, we won’t do this b/c the politicians want to extend the bite of the bullet until the other party is in power.
    In a perfect world, the people would revolt against the big banks, who have their fingers covered in the blood of war.

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